Analysing the Financial Ratios of the Companies in the Maritime Industry with Multivariate Statistical Techniques
Keywords:
Financial ratios, Water transport and shipping sector, Factor analysis, Multidimensional scaling analysisAbstract
This study aims to glance at the shipping sector in terms of financial ratios. To this end, 23 financial ratios were collected from each of the 223 companies worldwide and examined by factor analysis. Seven factors were spotted explaining 85% of the total variance. Subsequently, multidimensional scaling was conducted to analyse the sector on these seven factors. The findings demonstrate profitability ratios as the biggest source of variability and as the reason for the differences among companies. The findings also show that the profitability ratios can be used for monitoring, early warning or decision making purposes for the shipping sector.
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